Settled 2nd mortgage - 1099-C shows FMV at $0, why?
Date: Mon, 02/07/2011 - 18:29
Settled 2nd mortgage - 1099-C shows FMV at $0, why?
Last year I settled my 2nd mortgage. I received the 1099c. Why does the 1099C-C show the fair market value of my home as $0? My home isn't worth what it once was but it still is worth more than $0.
I think you have to contact the IRS department regarding this ma
I think you have to contact the IRS department regarding this matter. It seems they have done some mistake.
You have received the 1099c form because a portion of your secon
You have received the 1099c form because a portion of your second mortgage was forgiven by your lender. I will suggest you to contact your second mortgage lender and sort out the matter with him. You may even contact a tax adviser and take his help in this matter.
